Boi Net Spurts 27% To Rs 197 Cr In Q3

Bank of India (BoI) clocked a 27 per cent growth in its net profit for the third quarter (October-December) of 2002-03 at Rs 197 crore, up from Rs 155 crore in the corresponding quarter of the previous year.

For the nine-month period, the net profit jumped by 37 per cent to Rs 568 crore (Rs 415 crore). The operating profit for the nine months was up by 36 per cent at Rs 1,311 crore. The operating profit growth in the third quarter, too, was identical.

The net non-performing assets (NPAs) of the bank has declined from 6.63 per cent at December-end 2001 to 5.11 per cent at December-end 2002. During the period, the gross NPAs have declined from 10.69 per cent to 8.91 per cent. The capital adequacy ratio (CAR) of the bank jumped from 10.68 per cent at March-end 2002 to 11.04 per cent at December-end 2002.

 

On a year-on-year (YoY) basis, the non-interest income was up by 50 per cent. For the quarter, the rise is even higher at 72 per cent.

Consequently, the percentage of non-interest income to net income has increased from 32.90 per cent in December 2001 to 40.57 per cent in December 2002.

BoI